FAQ’s

Frequently Asked Questions

 

Q:  I noticed that some of the listings on this site are tagged “ACTIVE” while others are tagged “UNDER CONTRACT” or “SOLD.”  What’s the difference? 

A:  “ACTIVE” status means that the house is still available for sale.  It could have a contingent contract on it but offers may still be made and presented to the seller.  “UNDER CONTRACT” status means that the house is no longer actively being marketed because the seller has accepted a ratified, non-contingent contract on the property.  “SOLD” means well…sold, done deal, gone.

 

Q:  Why would you keep homes listed on this site that are tagged “UNDER CONTRACT” or “SOLD”? 

A:  Because a lot of real estate agents don’t pre-approve their buyers, it’s not uncommon for a foreclosure deal to “fall out” because it’s later determined that the buyer’s don’t qualify.   Working with an experienced foreclosure real estate agent will help prevent this form of buyer heart-break and aggravation.  Plus, being pre-approved will put you in a better negotiating position.  You know what they say…”It ain’t over ’til it’s over” so we leave “UNDER CONTRACTS” listed on our site for this reason.   

“SOLDS” are left on our site as a convenience to the many thousands of visitors, just like you, who have linked to a foreclosure home on our site via their Facebook, Myspace, Twitter or other social media network.  Linking to a page here will allow you to quickly and easily return to a bank foreclosure listing to check the status or current price.        

This is why we include the link to the full MLS Listing data on each forclosed home listed on our site.  It’s your link to the most accurate status and current price.  But remember, the most effecient way to search for a Bank Owned Foreclosure is our “FREE Instant Listings” option.  Read about it by… clicking here. 

 

More questions will be posted here as they are frequently asked.